Oscillosoft Price

Working for an IT project with any new partners (Clients) is always rewarding, as it is only the beginning of long-term relationship.

GET IN TOUCH

Our Pricing

Time Model

Time and Material or T & M is a pricing based IT outsourcing model. It is the most common outsourcing standard model. Basically the name implies, the payments are based on the number of hours of work completed per day. It has many features with different pros and cons of your business strategy. This model is ideal when the scope of work and the deliverable cannot be clearly defined. It is also utilized when a certain level of research and development needs to be done in an on-going project.

Features

  • Fixed hourly rate across the project
  • Time Tracked via our project/support portal timesheet
  • New work pre-approval process with fixed time estimation
  • No Minimum hours utilization per month, buy pre pay hours and use over period of time.
  • ideal for smaller project

Pros and Cons of Time and Material Model

This model is very effective if there are too many unknowns in a project or work. This model also enables the client to quickly increase and decrease project teams as per requirements and budgets. It is the model of choice for the initial phase of new development projects

Cons of Time and Material Model

Client needs to set aside management hours for controlling and tracking vendor resources, including the approval and clearance of time-sheets. It is often difficult to provide accurate budget estimates since there would not be any limits on the hours of utilization.

Vendor managers will not take responsibility of deliverable and management of stakeholder expectations.

Fixed Time Model

As the name itself implies, this is a Price based.This is the most mature of models. In this model, a fixed amount of money is guaranteed delivering a piece of work subject to mutually agreed scope.

Features

  • Fixed Price model demands that the scope of work, the milestones and the final deliverables are clearly defined and agreed between the parties.
  • Project scope are clearly defined at the start of the project.
  • Regular and periodic reviews and focus meetings.
  • Billing is done in phases or stages. A standard phased approach is as below as a guide only
    • Project Initiation – 60%
    • Go live – 40%

Pros

This is arguably the only model that will provide an accurate forecast of budgets. As it is a fixed price project, it will enable the client organization to get the best return on investment if the estimates have been drawn accurately. Strategic investments can be made into our own technology practices as well as into client relationship management.

Cons

The fixed price model increases the responsibility on the part of the client to select the best-fit outsourcing provider. Inaccurate requirements, scope and estimates will result in change request, higher cost, delayed project implementation. The risk increases as the value of the project increases. The model is not flexible as changes midway will be subject to change control procedures, and more often a lot of management time is lost in such exercises.Change control procedures by itself should be well defined and documented prior to the award of the contract.

Oscillosoft want to be your IT service PARTNER not vendor